FOREX: $1 Goes For N500
Efforts To Save The Naira Have Crumbled – IMF
Abuja & Lagos (New Telegraph) – The naira fell close to N500 against the dollar on the parallel market due to dollar shortages yesterday as Bureaux De Change (BDC) operators set their quotes for dollar purchases at N399/$ for next week, traders said . . .
Continue reading “Efforts To Save The Naira Failed As Nigerian Currency Rates N500 To $1”
Fears as Naira weakens to N490/$, 590/£
Abuja (Daily Trust) – The Naira on Wednesday weakened to N490 to a dollar at the parallel market after appreciating to N485 to a dollar during the Christmas break . . .
Continue reading “Naira Weakens Against Dollar, Pound Sterling & Euro”
Nigeria’s central bank to eliminate forex black market; Nokia sues Apple for infringing on patent rights; Nigeria loses N200b yearly to diversion of cargoes; Naira falls again at parallel market . . .
Continue reading “Business News Today”
The Central Bank of Nigeria (CBN) has finally allowed market forces to determine the true value of the Nigerian local currency- Naira (N) – against other currencies across the world. This was disclosed by the Governor of the CBN, Godwin Emefiele, who spoke at a press conference in Abuja on Wednesday . . .
Continue reading “Nigerian Currency, Naira, to be determined by market forces – CBN”
The Naira on Monday weakened further against the dollar at the parallel market, the News Agency of Nigeria (NAN) reports . . .
Continue reading “Nigerian Naira falls to ₦357 per US Dollar $1”
Some divided stakeholders in Nigeria say the policy may ease business and stifle local firms . . .
The Federal Government’s recent currency swap deal with China holds both bright prospects and grave implications for Nigeria even as the Naira inched up against the Dollar at the weekend at the parallel market . . .
Continue reading “Nigeria’s currency swap deal with China: Gains & pitfalls”
Femi Falana asks court to ban dollar as a legal tender in Nigeria
A Nigerian Human Rights lawyer, Mr. Femi Falana (SAN), filed a suit before the Federal High Court in Abuja on Wednesday, praying for an order restraining the Central Bank of Nigeria from allowing market forces to determine the exchange rate of the naira . . .
Continue reading “Human rights lawyer files suit to ban U.S. Dollar in Nigeria”
The naira continued to gain strength at the parallel market on Monday as an overflow of dollars chased the local currency. The value of the naira which had gone haywire last week rose to around N367 to the dollar . . .
Continue reading “Naira gains on Dollars as reserves rise”
31 Ships Carrying Petroleum Products, Cargoes Arrive Lagos Ports; Naira falls to a new low on the black market . . .
Continue reading “Shipping & Currency Report”